decrypt.co
Crypto exchange Huobi will join the BitTorrent Chain (BTTC) ecosystem, the company has revealed in an announcement.
Huobi’s integration with the layer 2 cross-chain solution will enable “seamless asset exchange” through connecting leading smart contract blockchains including Ethereum, Tron and BNB Chain, the exchange said in a release shared with Decrypt.
The result promises to be a “super network linking all blockchains,” that will help to promote an on-chain open financial system, according to Huobi.
#Huobi is excited to announce that it will join the #BTTC (BitTorrent Chain) ecosystem & support the development of a layer 2 network based on BTTC to promote the creation and improvement of an on-chain open financial system.
Details:https://t.co/NwoDgqyYup pic.twitter.com/gYXKaQUe7O
— Huobi (@HuobiGlobal) February 28, 2023
“The crypto exchange’s move reflects an industry focus on layer 2 developments”, said Tron founder and member of the Huobi global advisory board Justin Sun. He added that the integration of Huobi with BTTC demonstrates BTTC’s “pioneering status among its peers in the field of building a complete and pragmatic Layer 2 cross-chain network structure and platform."
What is BitTorrent Chain?
Launched in December 2021, BitTorrent Chain is a layer 2 solution for Ethereum, Tron and BNB Chain. BTTC’s cross-chain solution enables the seamless exchange of assets between these blockchains, connecting them to provide a secure, low-cost and fast development environment for decentralized applications (dapps).
Later in 2023, BTTC plans to integrate zero proof of knowledge (ZK) technology, the project revealed in a tweet.
Note: ZK (Zero Proof of Knowledge) technology will be introduced later this year.
— BitTorrent (@BitTorrent) February 28, 2023
Founded in 2013, crypto exchange Huobi has grown to support over 50 million users worldwide, trading $100 trillion in cumulative assets. In November 2022, the company rebranded with a new growth strategy which reflects its evolution into an ecosystem of blockchain businesses spanning digital asset trading, financial derivatives, wallets, research, investments and incubation.
The addition of Huobi to BTTC’s ecosystem will “promote the development and usage of decentralized applications on-chain and enhance the exchange's own ecosystem,” said a spokesperson for Huobi. They added that by supporting layer 2 development on mainstream chains including Ethereum and Tron, the exchange aims “ to provide an open, secure and diverse environment for all relevant developer teams.”